20.01.2008 Business & Finance

NGO assists rural women with micro-credit

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Friends of Africa Foundation, an international micro-finance NGO on Saturday assisted 100 women with micro-credit facilities in Brekuso and its surrounding communities to enable them to engage in profitable business ventures.

The move is to encourage the women, especially the youth in the area to be involved in entrepreneurial and incoming generating ventures as a way of alleviating poverty and to stop rural youth migration to cities in search of work.

Mr Simon Wakely, Executive Director of the Foundation said the foundation, which focuses on the youth also sought to help young people to develop themselves in a more sustainable manner.

He said the development of Ghana must be business-driven where the youth played active role in its economic liberation.

Mr Wakely said the foundation working in four African countries: Uganda, Kenya, South Africa and Ghana had assisted many young people to cultivate the habit of self-dependency.

"It is important to encourage young people to view an enterprise loan as a stepping-stone towards self-dependency and not develop a culture of relying on loans to maintain a day-to-day existence", he added.

Mr. Wakely lauded the contributions of Bournvita and Cadbury who had been major source of funding for poverty alleviation among African rural women.

Mr Tom Tagoe, Group Chairman, Harley Reed Consulting Limited based in the UK said the group had been chief advisors to accessing community needs on the project.

He said though the initial enterprise loan was minimal, the group hope to review it after six months depending on the payment rate.

Ms Faustina Darko, National Project Coordinator said about four communities: Ayim, Daman, Dedeman and Brekuso were benefiting from the micro-credit facility.

She said the expanded project would be rolled out in phases and noted that the project had the potential of having real impact on the economic life of the people.

"This is a project that can have real impact on the grinding poverty and lack of opportunities for young women in rural Africa", she added.

Ms Darko entreated the beneficiaries to pay promptly to ensure the continuity of the project as well as enable others to benefit.

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